Augustin Cournot showed (in 1838) that each of a small number of ...

[ericka1]

Augustin Cournot showed (in 1838) that each of a small number of quantity-setting firms in a homogeneous-product market will sense the influence of the individual firm's own output on market price, and will offer less than the competitive quantity
 
  as a result. Indicate whether the statement is true or false

Question 2

A basic principle in management is that where there is risk, there is ________.
 
  a. Opportunity
  b. Reliability
  c. Decision making
  d. Extenuating circumstances

[chem1s3]

Answer to Question 1

T When there are only a few firms, each firm will supply a small enough quantity to the market that it will be able to see how its own quantity will affect market price.

Answer to Question 2

A

[ericka1]

YES! Correct, THANKS for helping me on my review

[blakcmamba]

Thanks for the timely response, appreciate it